Increase family deduction level, need to do immediately

The current family deduction level has been maintained since 2020 and over the past five years, many essential goods and services have increased in price - Photo: QUANG DINH

In addition, the average income of people in the past five years has also increased. From July 1, 2024, the basic salary increased by 30% and the regional minimum wage also increased over the years.

During the past time, many National Assembly delegates, experts and voters have spoken out to suggest that the level should be adjusted soon. family deduction to suit reality. This is an urgent requirement that needs to be implemented immediately.

There must be harmony to ensure the interests of taxpayers while ensuring stability in budget mobilization and revenue.

At the same time, it is necessary to calculate both inflation and economic growth factors so that people can benefit from the growth results.

Currently, the Ministry of Finance has proposed two options and applied the family deduction from the 2026 tax period.

Through monitoring, the plan to adjust the family deduction for the taxpayer himself to 15.5 million VND/month and the deduction for each dependent to 6.2 million VND/month is relatively suitable and closer to reality.

However, regarding the time of application of this new family deduction level, the drafting agency should conduct further research thoroughly.

Because if submitted to the National Assembly Standing Committee for approval, it will take several months before the final settlement date. personal income tax year 2025.

Therefore, it should be applied from the 2025 tax period, not from the 2026 tax period.

Immediate application will demonstrate listening, timely encouragement, motivation to promote taxpayers and compensate for previous disadvantages.

It should be noted that the application of this new family deduction level is only temporary. Because the Ministry of Finance is seeking comments on the draft Law. Income tax replacement individuals. After amending the law, when calculating family deductions, there should be more appropriate regulations.

In principle, personal income tax is not only a tool to generate revenue for the budget, but also a way for the State to regulate income in a fair direction. To be fair, it must be collected correctly.

Currently, the standard of living in different regions of Vietnam, whether in urban areas or in rural areas, is different. Setting a common family deduction level is not really appropriate.

Therefore, when calculating family deductions, it should be determined appropriately by region and can be based on the regional minimum wage to determine the appropriate level.

At the same time, it allows deductions for essential expenses in people's lives, especially expenses for health care and education, home loan interest...

This way, workers in areas with high living costs can get more income tax deductions. Then the tax policy will be closer to real life and reduce unnecessary burdens for people.

Source: https://baoquangninh.vn/tang-muc-giam-tru-gia-canh-can-lam-ngay-3368271.html